Etihad Airways, the national airline of the United Arab Emirates, has announced an enhanced agreement with Citi as its international cash management bank partner.

The
new mandate, covering Etihad Airways' worldwide operations outside the GCC, will
enable the airline to leverage Citi’s substantial investment in financial
technology to further develop its cash management operations and help reduce
costs.

The enhanced
partnership comes a year after the signing of an innovative Supply Chain
Finance (SCF) agreement between Etihad Airways and Citi enabling the airline to
unlock liquidity and pay its suppliers almost immediately through funding
provided by the bank.

James Rigney, Etihad Airways Chief Financial Officer,
said: “We are delighted to have entered into this agreement with Citi which is
designed to drive more cost benefits for our business on a global level. As Etihad
Airways continues to grow, this partnership will help bring about greater
economies of scale, increased operational efficiency, enhanced financial
procedures and immediate solutions to local needs across our worldwide
operations.”

Emre Karter, Managing Director and
Regional Head – Treasury & Trade Solutions (Middle East, North Africa, Pakistan
& Turkey), said: “At Citi, we value
our strategic alliance with Etihad Airways which is one of the world’s fastest
growing airlines, and we're proud to provide global cash management services
that meet the exact needs of the carrier.
This is demonstrative of our ability to offer clients worldwide, local
and regional solutions with global service standards.”